RIYADH, Saudi Arabia, Oct. 25, 2023 /PRNewswire/ -- The FII Institute, a global non-profit foundation dedicated to tackling global issues by convening global leaders from private and public sectors, has today resolved to tackle AI risks in the form of a Resolution on AI and Humanity.
At the Future Investment Initiative summit underway in Riyadh (24 -26 October) 6,000 leaders, investors and innovators from east, west and Global are taking part in over 200 panels and discussions designed to tackle the big issues facing humanity, including the acceleration of AI and related technologies.
With global concerns running ahead of government and private sector action on governance and regulation of AI, and with notable industry leaders themselves expressing disquiet, an urgent need for immediate and robust global action has been identified at FII. Threats identified include:
A unified and inclusive governance regime for AI is urgently needed. It has been identified that until there is global alignment on AI development and regulation, risks will remain.
The resolution sets out urgent actions on AI:
FII will establish an AI Coalition, bringing together investors, corporations, government leaders and academics from developed and emerging markets to engage in a frank and candid dialogue on the critical issue of AI alignment.
The FII7 summit takes place a month after AI issues were addressed at the G20 summit in New Delhi and at UNGA in New York. It takes place one week before the UK hosts an AI safety summit at the UK home of codebreaking and computing, Bletchley Park. This positions FII's deliberations on AI within a live ongoing global conversation.
Richard Attias, CEO of the Future Investment Initiative Institute:
"It is absurd that tech companies and governance mechanisms in China, the US, EU, UK and Global South are so divergent on the threats and opportunities. The AI market is projected to reach up to $1.8Tn. AI stands poised to resolve some of our toughest challenges. But it can also create major global risks if we don't urgently align AI with the needs of humanity. AI is about to transform global societies and economies and the world needs to get to grips with this quickly."
About FII Institute
The Future Investment Initiative (FII) Institute is a global nonprofit foundation driven by data with an investment arm and one agenda: Impact on Humanity. Global and inclusive, we foster great minds from around the world and turn ideas into real-world solutions in four critical areas: Artificial Intelligence (AI) & Robotics, Education, Healthcare and Sustainability.
SOURCE Future Investment Initiative Institute